By Lindsey Wells

The City of Miami Beach Historic Preservation Board this week approved plans to redevelop North Beach’s Ocean Terrace. The plan will revitalize the historic oceanfront property by restoring its street-level architecture and adding new structures that reflect its unique character, according to a press release.

Located on Collins Avenue between 74th and 75th streets, the development will include a 20-story, 75-unit residential building with restaurant and retail spaces, a 127-room hotel and a five-acre park.

The plan includes renovating the historic Broadmoor and Ocean Surf hotel buildings and merging them with the new hotel to create a single operation. The hotel will feature restaurants, a bar, meeting rooms, a fitness facility, spa, an outdoor pool and deck, a rooftop lounge and on-site parking.

Designs for the residential component will reflect the area’s historic MiMo-style architecture. Units will range from two to five bedrooms and all will include luxury amenities.

The release said that the first stage of the plan will focus on a new $15 million public park, with construction set to begin in the third quarter of 2022. Pre-construction sales for the residential building are expected to launch at the same time. The park will feature new walking trails, water features, public seating and a covered pavilion. In addition, the public will have easier access to the ocean with a mid-block breezeway connecting Collins Avenue to Ocean Terrace.

“We are grateful to the North Beach community and City of Miami Beach for working together with us to create a vision for Ocean Terrace that incorporates historic preservation, activation of the oceanfront and economic revitalization,” said Alex Blavatnik, principal of Ocean Terrace Holdings. “We are excited to now be able to bring that vision to life, starting with an iconic and activated public space that will belong to the city for future generations.”

The plan was created by Ocean Terrace Holdings and is being led by Blavatnik and Sandor Scher.